## Nigeria: Selected Issues

_IMF Staff Country Reports, March 7, 2018_

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**Canonical URL:** [Nigeria: Selected Issues](https://www.imf.org/en/publications/cr/issues/2018/03/07/nigeria-selected-issues-45700)

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## Bibliographic details
- Published: March 7, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484345481.002

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### Overview and key findings
- Publication date: March 7, 2018
- Pages: 92
- Volume: 2018
- Issue: 064
- Series: Country Report No. 2018/064
- DOI: https://doi.org/10.5089/9781484345481.002
- Stock No: 1NGAEA2018002
- ISBN: 9781484345481
- ISSN: 1934-7685

- Low non-oil revenue mobilization is affecting the government’s objectives to:
  - expand growth-enhancing expenditure priorities,
  - foster higher growth,
  - comply with its fiscal rule which limits the federal government deficit to no more than 3 percent of GDP.

- There is significant revenue potential from structural tax measures.

### Detailed findings and analysis
- The paper analyzes mobilization of tax revenues in Nigeria, emphasizing that current non-oil revenue performance is insufficient to meet fiscal and development goals.
- Identified sources of revenue loss include:
  - corporate tax holidays,
  - widespread use of other associated tax expenditures,
  - narrow bases of income and consumption taxes,
  - weak incentives for subnational tiers of government to raise own-source revenues.

### Policy recommendations
- Implement a broad-based and comprehensive tax reform program in the short and medium term with measures to:
  - broaden the bases of income taxes,
  - broaden the bases of consumption taxes,
  - close loopholes and leakage created by corporate tax holidays and other tax expenditures,
  - create incentives for subnational tiers of government to raise their own-source revenues,
  - generate sustainable revenue growth to support higher growth and compliance with the 3 percent of GDP federal deficit fiscal rule.

### Subjects and keywords (as listed)
- Subject: Corruption, Crime, Excises, Financial services, Gender, Tax incentives, Taxes, Value-added tax, Women, Yield curve
- Keywords: Africa, Corruption, corruption case, CR, Excises, Global, impulse response function, income, income inequality, ISCR, loading factor, Nigeria, poverty gap, revenue, Southern Africa, Sub-Saharan Africa, Value-added tax, Women, yield, Yield curve, zero-coupon yield curves

*Source: Nigeria: Selected Issues (IMF Staff Country Reports 2018, 064).*

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_Source: https://www.imf.org/en/publications/cr/issues/2018/03/07/nigeria-selected-issues-45700_